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banksrcrooks

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Can owning a home outright increase credit score?
Is there any way to increase my credit score by somehow adding to the credit report that I own my own home. I paid cash, there is no mortgage. Thank you

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I don't think that helps your credit scores in any way. Credit score is all about how you 'borrow' and 'repay' the money. Not how much you have in cash.

Reply by
jipsjoy2

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The more costs to live, such as mortgage or rent payments should Absolutely have an affect on a credit score. Because a person such as myself has their home pd off, and do Not have those expenses anylonger, should be a Plus...though, Lenders, Banks, and Credit Card Companies are ONLY about what they can EARN themselves.....Sad, but true. Look At The Bail Outs and the Newest trends that banks are pulling....such as Who is allowed to Deposit Cash into an account!  Are You Kidding me?  Use those handy pens and check for counterfeit if that's what it's about...But, I don't believe that's it...Wise Up Consumers, Savers, and Average People trying to be financially responsible consumers.

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